Gross profit of dollars 250 million for the year 2020/2021. given the following information. ASSET REGISTER AS
Fantastic news! We've Found the answer you've been seeking!
Question:
Gross profit of dollars 250 million for the year 2020/2021. given the following information.
ASSET REGISTER AS AT 01 July 2020
Furniture 1,200,000
computer 1 300,000
computer 2 800,000
during the year, the 1st computer was sold off and a new one bought at 2,000,000. it also bought a second hand pick up at 5000,000
a) calculate the tax paid in the financial year 2020/2021
b) how would the following scenarios be treated
(i) supplied spare tyres worth USD 5,000 in the same year
(ii) calculate it's overall profit around the world was USD 1 Million
Expert Answer:
The detailed answer for the above question is provided below ANSWER IS Lets break down the calculati... View the full answer
Related Book For 
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Posted Date:
